NEAR Protocol Rises as Large Traders Place Multi-Million Dollar Orders
NEAR Protocol (COINBASE:NEARUSD) rose nearly 8% to trade around $5.33 as two large-scale traders placed massive buy and sell orders. The two accounts hold a combined long position of approximately $5.76 million on the decentralized trading platform Hyperliquid, carrying about $70,000 in unrealized profits.
The activity outlines key near-term support and resistance zones for the digital asset. One trader, holding a $4.22 million long position, set up 99 sell orders totaling $4.46 million to scale out of their trade. These take-profit orders are spread between $5.487 and $5.987, covering 98% of their holdings, with the first exit trigger sitting just 2.9% above the previous market price.
Meanwhile, another trader is preparing to heavily expand their exposure on any market pullbacks. Holding a $1.54 million long position, this account placed 15 buy orders totaling $8.32 million between $5.108 and $5.18. This pending order block is 5.6 times larger than their current holdings and would trigger if the token drops between 2.9% and 4.2%. Moving forward, investors will watch whether these large orders act as firm price boundaries, with the token recently trading at $5.392.
Key points
- NEAR Protocol rose nearly 8% in 24 hours to trade around $5.33 amid large trading activity.
- Two large traders hold a combined long position of $5.76 million on the Hyperliquid platform.
- One trader placed $4.46 million in sell orders between $5.487 and $5.987 to exit 98% of their position.
- Another trader set $8.32 million in buy orders between $5.108 and $5.18 to expand their position on a dip.
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How we writeDisclaimerQuestions and answers
Why did NEAR Protocol price rise recently?
NEAR Protocol rose nearly 8% in a 24-hour period, supported by significant trading activity from two large accounts placing multi-million dollar orders.
At what prices are the large NEAR Protocol sell orders set?
One large trader has placed 99 sell orders totaling approximately $4.46 million between $5.487 and $5.987 to exit their long position.
Where are the major buy orders placed for NEAR Protocol?
A large trader has placed 15 buy orders totaling about $8.32 million between $5.108 and $5.18 to increase their long exposure if the price drops.